Certain embodiments of the present disclosure relate generally to setup and configuration of system documentation, and in particular to systems, methods, and computer-readable media for acceleration of system documentation conformance to differentiated regulations of multiple countries.
Modern enterprise software may include accounting applications to help monitor an organization's finances. The accounting applications may manage transactions and finances for the entire organization, or departments or subsidiaries within the organization. Accounting applications may also be used to manage complex accounting, inventory management, balance sheet and financial report generation, and any other financial details of the business. For large businesses, Enterprise Resource Planning software may be used, and may include functional modules such as accounts payable, accounts receivable, payroll, and trial balance.
An organization may include or otherwise be associated with multiple legal entities and may have operations related to multiple countries. There are various regulations in place for various governments. For example, Italy may have one set of rules; the U.S. may have another set of rules; etc. Such rules may pertain to the sequences that need to be generated for each of these transactions. With respect to Europe, for example, document and accounting sequencing of transactional records are regulatory requirements for several countries including Italy, Spain, France, Germany, and Netherlands, among others. Such requirements may be intended to ensure an audit trail is available for all invoices, journals, and other transaction documents. Assigning sequencing rules at the required legal entity or ledger level may help to provide assurances to reviewers and auditors regarding the integrity and completeness of an organization's financial records. Thus, an organization operating across perhaps dozens of countries may need to comply with myriad country-specific regulations.
Enormous technical challenges are created by the difficulty of keeping track of all of the accounting information for organizations spanning multiple countries, which difficulty is further compounded by the fact that different information is treated differently in different countries. Traditionally, subject matter experts with expertise in each country are needed based on these differences. Yet, such subject matter experts often do not know each other's business practices. Therefore, there is a need in the art for improvements that address such technical challenges and deficiencies. This and others needs are addressed by the present disclosure.